Switzerland Proposes to Restructure Corporate Tax System to Strengthen Tax Competitiveness

SUNNYVALE, Calif. - Sept. 23, 2013 - PRLog -- The Swiss Federal Government has published an interim steering committee report, in May 2013, outlining plans to restructure its Corporate tax system with the intent of strengthening the country’s international competitiveness and making Switzerland more attractive to companies in search of international locations. The systems which are under consideration for modification pertain to the domiciliary, holding and mixed-company tax regimes, reports Nair & Co.’s International Tax Services (http://www.nair-co.com/tax-compliance.aspx) Team.

Following are some recommended changes outlined in the proposal:

*          Notional interest deduction on equity granting – this would afford equal tax treatment to interest-bearing debt, non-interest bearing debt and equity equally.

*          Tax incentives to companies that are involved in innovation-driven business activities such as research & development and intellectual property exploitation – along the lines of the “license box” concept already being applied in other European regions.

*          Reduction of ordinary tax rates – this would bring tax rates on par with other taxes and taxes within the region

The federal government of Switzerland plans to modify and implement tax regime changes in the next five to seven years.

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